Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale basin.
ConocoPhillips’s purchase of Royal Dutch Shell Plc’s Permian assets will make it the second-largest producer in the world’s top shale basin, according to data from Enverus.
Chevron Corp. boosted its planned share buyback to as much as $5 billion per year, as the oil giant uses higher commodities prices to step up returns to investors rather than investing in production growth.
Shell has reached a deal to sell its Permian shale business to ConocoPhillips for $9.5 billion, with $7bn of that going to shareholders.
If energy demand is shifting away from fossil fuels, the most economically rational move for governments is to maximise development of resources now.
Demand for hydraulic fracturing services in shale plays across the United States is expected to reach rock bottom in May and stay low in the summer before a recovery begins in the fall, the Norwegian global energy research firm Rystad Energy reported.
U.S. oil prices aren’t expected to repeat last month’s unprecedented collapse into negative territory, industry experts say, because the nation’s stockpile has slowly decreased, easing a storage crisis, while traders “learned their lesson.”
A Midland legend passed away Friday night.
Petrofac has announced new contracts and extensions in the North Sea and Malaysia worth £93m, as well as an acquisition marking its entry to the US onshore services market.
The waste and pollution of natural gas in the Permian Basin reached new record highs yet again in the third quarter, according to a report from the Norwegian research firm Rystad Energy.
NextDecade has signed a memorandum of understanding (MoU) with Enbridge on the construction of a pipeline from Texas’ Agua Dulce area to the proposed Rio Grande LNG project, in Brownsville.
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
A state district court judge has tossed out a lawsuit that sought to stop a Kinder Morgan pipeline from being routed through the Texas Hill Country.
Apache Corp.'s Altus Midstream Co. said it opened its new Permian Basin processing plant to treat its production of natural gas and natural gas liquids.
Big Oil probably won’t be buying up the Permian Basin’s struggling independent drillers any time soon.
Moss Creek Resources recently set a new record for drilling a well in the Permian Basin, the onshore resource that has dramatically transformed the fortunes of the US oil and gas industry.
Exploration costs, lower oil and gas prices and heavy maintenance dented ExxonMobil’s earnings for the start of the year.
Houston's Apache Corp. said Tuesday it will dramatically cut back on its natural gas production in the Permian Basin for an extended period of time because of steep pricing discounts caused by pipeline shortages in the region.
Royal Dutch Shell Plc is on the hunt for deals to bulk up its position in the Permian Basin, where it lags rivals Exxon Mobil Corp. and Chevron Corp.
Exxon Mobil is seeking to maintain its top spot in the world of Big Oil by hiking spending and aiming to churn out increasingly higher volumes of oil and gas with a strong emphasis in West Texas and South America.
The nation's two largest oil companies said Tuesday they plan to significantly hike their activity in West Texas' Permian Basin and dominate the region, spending even more money while others cut back.
The attention of the energy industry has focused in recent years on the Permian Basin, the once tired West Texas oil field that roared back to life when hydraulic fracturing and horizontal drilling freed the vast reserves locked in its shale. But as the Permian gathers the attention, another aging oil field is making its own comeback.
Exxon Mobil said it will deploy technology from Microsoft to make its massive Permian Basin development the largest oil and gas acreage in the world to use cloud computing technology.
Volatile oil prices are hindering global M&A deals by creating uncertainty, widening the asset valuation gap between buyer and seller, and making companies re-think their strategies, analysts said.
Texas lost two drilling rigs over the last week, both in the high-producing Permian Basin oil field of West Texas.